The Praxis digital community project, based on artificial intelligence and cryptography, has chosen Uruguay to establish its city called +Colonia near Colonia del Sacramento. The project raised 525 million dollars at the end of 2024, including 500 million provided by crypto investment fund GEM Digital, conditional on progress and the delivery of tokenized real estate assets. Praxis’s goal is to create an autonomous political entity with a constitution and AI-assisted governance. CEO Dryden Brown plans to relocate to Uruguay in December, with the first community members potentially moving in by 2027. However, no binding agreement has yet been signed between Praxis and Eduardo Bastitta’s company, the entrepreneur appointed as advisor by Argentine President Javier Milei.
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